Tuesday, March 1, 2011

Day 22. No trades.

Slow movements and then when the news at 7am hit, price was smooth sailing. Made nice moves, just what I look for. See screenshot:


But, Oanda spread was 1.5 and I usually don't trade unless it's 1.2 or lower. Then it hit me. Duuuuurrrr. The moves that I look for, those smooth end to end bars, are a result of volatility. And volatility usually happens after the open and after news. During news, when prices go crazy, Oanda spreads are 10+. Immediately following the news, when price settles down a bit and make those smooth moves, Oanda spread is 1.5 - 2pips. So I often can't trade the moves that are best for my style. I've been watching the MBT spread each day since day 1. And during the times of those moves spread varies from 1/10 of a pip to a full pip. So during these moves and including commissions, at it's worst MBT is the same as Oanda and at it's best it's lower than Oanda. The problem though is the lag I experienced with MC. I'll give it another shot though. There so many pro's about using MC with MBT over Oanda with NT on MBT that it's worth giving another look.

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